92% of surveyed Korean firms in Vietnam have no plans to withdraw despite rising costs
A Korea International Trade Association report released November 8 found that 92% of 113 surveyed Korean companies operating in Vietnam had no intention of withdrawing. Government regulation and rising labor costs were among their leading business difficulties, but 87.5% cited cost advantages over other countries as a reason to stay. The report said Vietnam’s monthly minimum wage rose from $45.40 in 2010 to $205.30 in 2024, a 4.5-fold increase.